SL Green Realty Corp. (NYSE:SLG) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board lessened its holdings in shares of SL Green Realty Corp. (NYSE:SLG) by 3.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 137,545 shares of the real estate investment trust’s stock after selling 5,000 shares during the quarter. Public Sector Pension Investment Board owned about 0.21% of SL Green Realty worth $9,575,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Venturi Wealth Management LLC lifted its holdings in SL Green Realty by 272.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 272 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of SL Green Realty in the second quarter valued at $29,000. Friedenthal Financial acquired a new stake in shares of SL Green Realty in the third quarter valued at $49,000. Rothschild Investment LLC purchased a new position in SL Green Realty in the second quarter valued at $55,000. Finally, Blue Trust Inc. grew its stake in SL Green Realty by 363.2% during the 3rd quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust’s stock worth $56,000 after purchasing an additional 632 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Analysts Set New Price Targets

SLG has been the subject of several recent research reports. Bank of America lifted their price objective on SL Green Realty from $59.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, August 22nd. BMO Capital Markets reiterated an “outperform” rating and set a $87.00 price target (up previously from $72.00) on shares of SL Green Realty in a report on Monday, October 21st. Morgan Stanley raised their price objective on shares of SL Green Realty from $47.00 to $50.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Wells Fargo & Company boosted their target price on shares of SL Green Realty from $43.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 11th. Finally, Evercore ISI raised their price target on SL Green Realty from $67.00 to $79.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, SL Green Realty currently has a consensus rating of “Hold” and an average target price of $66.00.

SL Green Realty Trading Down 0.5 %

NYSE SLG opened at $78.21 on Friday. The firm’s fifty day moving average is $74.63 and its two-hundred day moving average is $65.10. SL Green Realty Corp. has a one year low of $36.10 and a one year high of $82.81. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.58 and a current ratio of 2.58. The firm has a market cap of $5.16 billion, a PE ratio of -31.28, a P/E/G ratio of 3.85 and a beta of 1.82.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($1.42). SL Green Realty had a negative net margin of 16.78% and a negative return on equity of 3.76%. The company had revenue of $229.69 million during the quarter, compared to analyst estimates of $136.66 million. During the same quarter last year, the firm earned $1.27 EPS. Analysts expect that SL Green Realty Corp. will post 7.61 earnings per share for the current year.

SL Green Realty Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.25 per share. This represents a $3.00 annualized dividend and a dividend yield of 3.84%. The ex-dividend date is Friday, November 29th. SL Green Realty’s dividend payout ratio is presently -120.00%.

About SL Green Realty

3SL Green Realty Corp., Manhattan’s largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of June 30, 2022, SL Green held interests in 64 buildings totaling 34.4 million square feet.